"Wow I Got Approved!"
American Express® Preferred Rewards Green Card Review
Written by: _leo_ on 2008-10-23
Overall Satisfaction
Customer Service
Rewards
Account Management
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_leo_'s review: 
After reading through the site, I finally got the courage to apply, and I got approved for this card! It came in 4 days! It said there was no spending limit, so I called customer service to see if I could get a definition to what that meant, ultimately they put a "test charge" through to see what I would be approved for, they tried $1000 and it went through fine, and $2000 went through as well, which is great! But that was it lol my scores on trucredit are 550 562 and 559 I then went to myFICO and got my trans and exp and they showed a lot different 635 and 626, hope that helps someone else! I didn't realize the difference from fako to FICO untill I read someone elses post that's when I went to myFICO. I do have an orchard bank card for over a year, a best buy card, and a car loan all never late payments. Glad I found the site now I'm addicted!!! Thank you finance Globe!!
After reading through the site, I finally got the courage to apply, and I got approved for this card! It came in 4 days! It said there was no spending limit, so I called customer service to see if I could get a definition to what that meant, ultimately they put a "test charge" through to see what I would be approved for, they tried $1000 and it went through fine, and $2000 went through as well, which is great! But that was it lol my scores on trucredit are 550 562 and 559 I then went to myFICO and got my trans and exp and they showed a lot different 635 and 626, hope that helps someone else! I didn't realize the difference from fako to FICO untill I read someone elses post that's when I went to myFICO. I do have an orchard bank card for over a year, a best buy card, and a car loan all never late payments. Glad I found the site now I'm addicted!!! Thank you finance Globe!!
10 Comments
Comment 1 by hjm331
Congrats! 
on 2008-10-23
Congrats on the new card! Hope you enjoy it. The thing about not having a pre-set limit is that there is no limit being reported onto your credit reports so when a balance shows up on the account, it will appear maxed out to the FICO scoring system and you will see a decrease in your scores. If you notice a significant point loss in your scores, call AMEX and ask them to see if they can convert it to a credit card rather than a charge card.
on 2008-10-23 Congrats on the new card! Hope you enjoy it. The thing about not having a pre-set limit is that there is no limit being reported onto your credit reports so when a balance shows up on the account, it will appear maxed out to the FICO scoring system and you will see a decrease in your scores. If you notice a significant point loss in your scores, call AMEX and ask them to see if they can convert it to a credit card rather than a charge card.
Comment 2 by wanderer
Way To GO! on 2008-10-23
Totally cool! Nice work! Gives some of us ideas and hope!
on 2008-10-23 Totally cool! Nice work! Gives some of us ideas and hope!
Comment 3 by dunta
Congrats on 2008-10-23
Congratulations and welcome to the American Express family. I have been a cardmember for five years and I have never had a problem with them. This green card is great to have because you have to pay your bill in full every month which keeps you from charging things you don't need. In a few months I'm sure they will offer to upgrade your account to gold! Anyways hope you enjoy the new card.
on 2008-10-23 Congratulations and welcome to the American Express family. I have been a cardmember for five years and I have never had a problem with them. This green card is great to have because you have to pay your bill in full every month which keeps you from charging things you don't need. In a few months I'm sure they will offer to upgrade your account to gold! Anyways hope you enjoy the new card.
Comment 4 by arod
Congrats !!! on 2008-10-23
This card is great !! Enjoy your new card. I have the gold one but I tell you they are all great to have,
Good Luck to you and yes enjoy one of there best cards.
But I would recommend later to get there blue from AMEX but I would say wait till your FICO goes higher.
Take Care,
Alex
on 2008-10-23 This card is great !! Enjoy your new card. I have the gold one but I tell you they are all great to have,Good Luck to you and yes enjoy one of there best cards.
But I would recommend later to get there blue from AMEX but I would say wait till your FICO goes higher.
Take Care,
Alex
Comment 5 by rivasglo
RE: No Preset Limit On Your CR on 2008-10-23
When I had the Chase Freedom Visa Signature... For like a month or two before I had it downgraded... It didn't impact my scores at ALL! I guess bc my utilization was about the same w/ or with out.
Also on my TrueCredit, the Chase Siggie reported as an installment loan and that is not figured into the FICO.
The only way you would see a decrease in scores should be is if your utilization is high and you need that high CL to report to give you more available thus a lower utilization...
Your scores were much higher w/ TrueCredit vs FICO. I guess since my scores are average of 630 means I have a higher FICO. I hope this is true. This makes me wanna go buy my FICO!
and CONGRATS ON THE AMEX!
on 2008-10-23 When I had the Chase Freedom Visa Signature... For like a month or two before I had it downgraded... It didn't impact my scores at ALL! I guess bc my utilization was about the same w/ or with out.Also on my TrueCredit, the Chase Siggie reported as an installment loan and that is not figured into the FICO.
The only way you would see a decrease in scores should be is if your utilization is high and you need that high CL to report to give you more available thus a lower utilization...
Your scores were much higher w/ TrueCredit vs FICO. I guess since my scores are average of 630 means I have a higher FICO. I hope this is true. This makes me wanna go buy my FICO!
and CONGRATS ON THE AMEX!
Comment 6 by colonative
Congratulations on 2008-10-23
This is a classic card, enjoy. I just wish they didn't have annual fees.
on 2008-10-23 This is a classic card, enjoy. I just wish they didn't have annual fees.
Comment 7 by meya
Congrats on 2008-10-23
Way to go, keep us posted in the comments with your overall usage of the card.
on 2008-10-23 Way to go, keep us posted in the comments with your overall usage of the card.
Comment 8 by _leo_
Thank You on 2008-10-24
Thank you very much everyone! And thank you for the great tips! I kinda wish it was just a credit card then a charge, but I'm just lucky I got approved so I cant be picky about it lol I pay off my balance every month anyway but now I'm a little worried about my score dropping, from what u said hjm, as far as the FICOs go Rivas I couldn't believe the difference between truecredit and myFICO, I think I might cancel my trucredit service now, and just pay $30 for 2 scores every month from myFICO since its that much a difference! Although I read that 95% of all banks only use myFICO scoring anyway so the others are a waste of money I'm thinking now. Thank you again everyone!
on 2008-10-24 Thank you very much everyone! And thank you for the great tips! I kinda wish it was just a credit card then a charge, but I'm just lucky I got approved so I cant be picky about it lol I pay off my balance every month anyway but now I'm a little worried about my score dropping, from what u said hjm, as far as the FICOs go Rivas I couldn't believe the difference between truecredit and myFICO, I think I might cancel my trucredit service now, and just pay $30 for 2 scores every month from myFICO since its that much a difference! Although I read that 95% of all banks only use myFICO scoring anyway so the others are a waste of money I'm thinking now. Thank you again everyone!
Comment 10 by jpnguyen
BIG Congrats! on 2008-10-27
Even during tough times, you were able to get this card. Very nice. You should be proud.
I applied for the card but was denied based on a short credit history. Go figure, its only a year old. I'll be trying again next November after these inquiries roll off their credit scoring system.
on 2008-10-27 Even during tough times, you were able to get this card. Very nice. You should be proud.I applied for the card but was denied based on a short credit history. Go figure, its only a year old. I'll be trying again next November after these inquiries roll off their credit scoring system.
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Disclaimer: This content is not provided by American Express. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by American Express. Review content is powered by Finance Globe.
